Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Nutley Twp. Multi-Family Property Title is generated by Realmo AI

    151 Conover Ave, Nutley, NJ 07110

    View on Map
    Claim this Listing
    For Sale
    $699,000

    Multi-Family, 2-Two Story - Nutley Twp., NJ

    Lot size:
    0.11 Acres
    Added:
    Apr 6, 2026
    Days on Market:
    51
    Last Refresh:
    May 26 at 10:06 pm

    Property Features for 151 Conover Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    3
    Bathrooms
    2
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 3, Kitchen, Living Room, Master Bedroom
    Parking
    3
    Interior features
    Carpeting, Vinyl-Linoleum Floors, Wood Floors
    Exterior features
    Privacy Fence, Storage Shed
    Fencing
    Fenced, Privacy
    Basement Y/N
    1
    Appliances
    Dishwasher, Microwave, Oven - Gas, Range, Refrigerator, Washer
    Standard status
    Active
    Lot size
    0.11 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    11052

    Building Details

    Year built
    1951
    Number of units
    2
    Building materials
    Brick, Vinyl Siding
    Roof type
    Asphalt, Shingle
    Architectural style
    Other
    Additional Structures
    Packing Shed, Shed(s), Storage

    We can help!

    Listing Contact
    MICHAEL P MOSCARA

    Listing agent MICHAEL P MOSCARA

    Listing office MOSCARA REALTY 165 FRANKLIN AVENUE, Nutley, NJ

    Listing date Apr 6, 2026

    MLS# 4018933 Listing URL

    Copyright © 2026 Garden State MLS, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • New kitchen on the 1st floor and new bathroom on the 2nd floor.
    • Two built‑in (BI) units on the 2nd floor providing heat and AC.
    • Fenced‑in yard with cedar storage shed.
    • Roof is only 5 years old.
    • Close proximity to school, shops, park, and transportation.
    • Basement laundry for the 1st floor unit.

    Overview

    This two-family property is located in a residential area of Nutley Twp., NJ. The first floor features a new kitchen, while the second floor includes a new bathroom. The second floor also has two built-in units that provide both heat and air conditioning. The property includes a fenced yard with a cedar storage shed. There are front and side entrances to the property. Laundry facilities are available in the basement for the first-floor unit only. The roof is approximately 5 years old. The property is located close to a school, shops, a park, and transportation options. The lot size is 0.11 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Nutley
    County
    Essex
    State
    New Jersey
    Longitude
    -74.15494
    Latitude
    40.80995

    Nearby Similar for Sale

    • $1,195,000
      3,056 SF

      Medical Office Building For Sale

      3,056 SF medical office building in Nutley Twp., NJ.
      582 Franklin Ave, Nutley Twp., NJ 07110-1253
      View Details
    • $799,000
      2,256 SF

      Well-Maintained Two-Family Home in Nutley

      Two-family home in Nutley with modern amenities and convenient location.
      145 Harrison St, Nutley Twp., NJ 07110-3261
      View Details
    • $2,195,000
      7,000 SF

      Mixed-Use Building with Restaurant/Bar

      Mixed-use property with restaurant/bar and apartments in Nutley Twp.
      2 E Passaic Ave, Nutley Twp., NJ 07110-3049
      View Details
    • $1,199,000

      Modern Multi-Family Home in Nutley

      Built in 2017, modern design, convenient location, spacious units.
      38 Centre St, Nutley Twp., NJ 07110-3725
      View Details
    • $1,350,000
      1,600 SF

      New Multi-Family Home with Garage

      New construction two-family home with NYC views and garage.
      Nutley Twp., NJ 07110-3727
      View Details
    • $179,900

      Nutley Twp. Office Condo

      Professional office condo with reception area, conference room, and entrances.
      640 Franklin Avenue, Nutley Twp., NJ 07110-1200
      View Details
    • $1,950,000
      5,600 SF

      Mixed-Use Income Property in Nutley

      Mixed-use property with warehouse, storefront, and apartments in Nutley.
      171-173 Franklin, Nutley, NJ 07110
      View Details
    • $1,359,000
      12,500 SF

      Mixed-Use Income Property in Nutley

      Mixed-use property with warehouse, storefront, and apartments in Nutley.
      171 Franklin Ave, Nutley Twp., NJ 07110
      View Details
    • Contact for pricing

      Mixed-Use Building with Retail Space

      Three-story brick building with apartments, retail, and on-site parking.
      140 East Centre Street, Nutley, NJ 07110
      View Details
    • $759,000

      Mixed-Use Building in Nutley

      Mixed-use building with office and residential units, convenient location.
      637 Bloomfield Ave, Nutley Twp., NJ 07110
      View Details
    • $1,359,000
      5,600 SF

      Mixed-Use Income Property in Nutley

      Mixed-use property with warehouse, storefront, and apartments in Nutley.
      171-173 Franklin, Nutley, NJ 07110
      View Details
    • $2,195,000
      7,000 SF

      Mixed-Use Building with Restaurant/Bar

      Mixed-use property featuring a restaurant/bar and four residential apartments.
      2 E Passaic Ave, Nutley Twp., NJ 07110
      View Details

    FAQs

    What type of property is this?
    Duplex - Two-family property with updated kitchen and bath, convenient location.
    Where is this duplex located?
    The property is located at 151 Conover Ave Nutley, NJ.
    What is the asking price?
    The asking price for this property is $699,000.
    What are key features of this property?
    This property features: New kitchen on the 1st floor and new bathroom on the 2nd floor.; Two built‑in (BI) units on the 2nd floor providing heat and AC.; Fenced‑in yard with cedar storage shed.
    (973) 667-1732
    We can help!
    Listing Contact
    MICHAEL P MOSCARA
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    151 Conover Ave, Nutley Twp., NJ 07110-3381
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!